>>> US Early premarket gappers

Early premarket gappers
Gapping up: TOPS +40%, RGSE +23%, TRUE +15.8%, COHU +9.6%, ANET +9.3%, UN +8.6%, TMST +8.6%, DRYS +8.3%, AIRG +7.1%, CYTK+7.1%, DCIX +6.6%, CGNX +5%, MTL +4.1%, KHC +3.9%, WBMD +3.8%, ZPIN +3.5%, TTD +3.4%, IMGN +3.2%, RUTH +2.8%, CRC +2.6%,CRC +2.6%, KEYS +2.5%, CC +2.4%, FCX +2.3%, AZN +1.8%, DE +1.7%, TPX +1.6%, GOGL +1.4%, LC +1.2%, GOLD +1.1%, CHK +1%, CNHI+0.9%, SBLK +0.9%, AUY +0.9%, DLR +0.9%, CTT +0.9%, P +0.8%, FIVN +0.8%, DVA +0.8%,

Gapping down: NUS -7.4%, MCHX -6.8%, PI -5.3%, AEG -5.1%, HMY -4.4%, ORC -4.4%, FLS -4.2%, LII -4%, CINR -3.8%, SAGE -3.3%, BKD-3.2%, HTZ -3.2%, DB -3%, ERIC -2.8%, SJM -2.8%, ALV -2.5%, BCS -2.4%, K -2.3%, PES -2.3%, BHP -2.2%, MDRX -2.2%, RIO -2%, BBVA-1.9%, BBL -1.9%, HURN -1.9%, TSLA -1.6%, JD -1.6%, SDRL -1.5%, LYG -1.5%, RDS.A -1.4%, SAN -1.4%, AU -1.4%, TOT -1.2%, TRN-1.2%, AMBR -1.2%, CREE -1%,

>>> US Gapping up

Gapping up
In reaction to strong earnings/guidance:
  • TOPS +61.3%, RGSE +22%, (also completes offerings that raised total net proceeds of $16.0 million; regains Nasdaq compliance and now debt-free)
  • TRUE +14.7%, AIRG +11.1%, COHU +11.1%, ANET +10.8%, TMST +10%, RWLK +8.7%, CYTK +7.1%, CGNX +5%, DE +3.7%
  • TTD +3.6%, (also files registration statement for proposed follow-on offering by selling shareholders), IMGN +3.2%, GOL +3.2%,KEYS +3.1%
  • WBMD +2.9%, (also commenced a process to explore and evaluate potential strategic alternatives ), RUTH +2.8%, CTB +2.1%, DVA +1%
  • AUY +0.9%, DLR +0.9%, FIVN +0.8%
M&A news:
  • LMIA +49.6% (to be acquired by Sonaca Group for $14.00 per share)
  • UL +10.5% (Kraft Heinz (KHC) confirms that it made proposal to Unilever about combining the two groups), UN +9.4%, KHC +5.1%
  • ZPIN +3.5% (Zhaopin special committee is in advanced discussions regarding a potential transaction after receiving preliminary non-binding proposal $18.00 in cash per ADS)
Other news:
  • HTBX +5.3% (presents data from its Phase 2 trial evaluating vesigenurtacel-L)
  • AZN +1.7% (reports Phase III trial for Lynparza meets primary endpoint), LC +1.2% (modest rebound following yesterday's 8% decline)
  • ARAY +0.9% (presents data from a Phase II study which showed that treatment with the CyberKnife System for low- and intermediate-risk prostate cancer provides 'excellent long-term results' at ASCOGU )
  • CNHI +0.9% (in sympathy with DE results)
  • ABBV +0.7% (authorizes a $5 bln increase to AbbVie's existing stock repurchase program)
Analyst comments:
  • CC +1.4% (upgraded to Positive from Neutral at Susquehanna)
  • TPX +0.9% (upgraded to Outperform at Raymond James)

>>> US Gapping down

Gapping down
In reaction to disappointing earnings/guidance:
  • HURN -12.9%, (Huron Consulting to acquire growth strategy firm Innosight; reports prelim 2016 results slightly below estimates and issues 2017 guidance)
  • NUS -9.1%, ORC -8.8%, MCHX -5.5%, AEG -5.1%,
  • FLS -4.2%, (also announces an order close to $80 mln to provide pumps and ebulators for the Hengli Integrated Refining Complex Project in China)
  • GIS -4.1%, CINR -3.8%, (thinly traded), XRAY -3.4%, VECO -2.8%, SJM -2.8%, GVA -2.7%, VFC -2.4%, PES -2.3%, TRN -2.2%, MDRX -2.2%
  • SE -2%, AMBR -1.2%, MRC -0.9%, MRC -0.9%, CPB -0.8%
M&A news:
  • MDLZ -5.1% (after Kraft Heinz (KHC) says it is approaching Unilever)
  • SAGE -4.3% (issues statement that co is not in M&A discussions)
  • K -2.8% (following Kraft (KHC) proposal to combine with Unilever (UL))
  • CREE -1% (Cree will terminate the definitive agreement to sell its Wolfspeed Power and RF division to Infineon Technologies AG), .
Select EU financial related names showing weakness:
  • DB -3.5%, ING -2.5%, RBS -2.3%, BCS -2.2%, LYG -2%, SAN -2%, BBVA -1.9%
Select metals/mining stocks trading lower:
  • HMY -4%, BBL -2.2%, BHP -2.1%, RIO -1.8%, AU -0.5%

Other news:
  • BKD -4.1% (following late spike into the close on reports of potential interest from Ventas)
  • LII -3.1% (Lennox Int'l issues statement, says it withdrew from presenting at the Barclays Industrial Select Conference next week because its CFO has a minor back injury that requires surgery)
  • TSLA -1.6% (continued weakness)
  • NAK -0.5% (responds to 'misleading criticism' in the February 14, 2017 report by Kerrisdale Capital; believes each claim is 'unfounded, contain numerous errors')
Analyst comments:
  • HTZ -3.5% (downgraded to Underperform from Neutral at Credit Suisse)
  • CAR -0.7% (downgraded to Neutral from Outperform at Credit Suisse)

>>> Unilever sees no basis for further talks after rejecting Kraft's USD 143bn o

Unilever sees no basis for further talks after rejecting Kraft's USD 143bn offer
17 FEB 2017
Unilever [ULVR:L] [UNIA:AS] notes the recent announcement by The Kraft Heinz Company ("Kraft Heinz") [NASDAQ: KHC] that it has made a potential offer for all of the shares of Unilever PLC and Unilever N.V.
Their proposal represents a premium of 18% to Unilever's share price as at the close of business on 16 February 2017. This fundamentally undervalues Unilever. Unilever rejected the proposal as it sees no merit, either financial or strategic, for Unilever's shareholders. Unilever does not see the basis for any further discussions.
Unilever PLC and Unilever N.V. recommend that shareholders take no action. Further announcements will be made as appropriate.
The proposal received was that Unilever common shareholders would receive USD 50.00 per share in a mix of USD 30.23 per share in cash payable in U.S. dollars and 0.222 new enlarged entity shares per existing Unilever share, which valued Unilever at a total equity value of approximately USD 143bn.
As at the close of business on 16 February 2017, a mix of USD 30.23 in cash payable in U.S. dollars and 0.222 Kraft Heinz shares per existing Unilever share would value each Unilever common share at USD 49.61, representing a premium of 18% to Unilever's share price.
As stated in the recent announcement by Kraft Heinz, in accordance with Rule 2.6(a) of the Code, by not later than 5.00 pm on 17 March 2017, Kraft Heinz must either announce a firm intention to make an offer for Unilever under Rule 2.7 of the Code or announce that it does not intend to make an offer for Unilever, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline will only be extended with the consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code.
As required by the Code, Unilever confirms that this announcement is not being made with the agreement of Kraft Heinz.
There can be no certainty that any offer will be made nor as to the terms on which any such offer might be made.
Unilever's advisor are Centerview, Morgan Stanley, UBS and Deutsche Bank.